annuity selling at $18,722.66 today that promises to make equal payments at the beginning of each You bought year for the next six years (N). If the annuity's appropriate interest rate (I) remains at 8.00 % during this time, then the value of the annual annuity payment (PMT) is an You just won the lottery. Congratulations! The jackpot is $85,000,000, paid in six equal annual payments. The first payment on the lottery jackpot will be made today. Irt present value terms, you really won assuming annual interest rate of 8.00 %